Last Week Recap: Updates on FCA, MAS; ASIC Cracks down on "Finfluencers"; Insights from FXBO and ECB

Fazzaco continued extensively covering the latest trends in forex, crypto, fintech, and prop trading last week. The below is the selected highlights of last week.

FCA Launches 'Supercharged Sandbox' for AI Innovation in Financial Services​

The Financial Conduct Authority (FCA) has announced the launch of a "Supercharged Sandbox" last week, a new initiative designed to enable financial services firms to safely experiment with Artificial Intelligence (AI) to foster innovation. This program, announced today, June 10, 2025, is the result of a collaboration that will provide participating firms with access to NVIDIA accelerated computing and NVIDIA AI Enterprise Software.

FXMeridian Expands African Footprint with New Offices in Kenya and South Africa

FXMeridian, a global CFD trading platform, has announced the opening of new offices in Nairobi, Kenya, and Cape Town, South Africa, as part of its international expansion strategy. The Nairobi office, located on Dennis Pritt Road in the Kilimani district, will serve as a new regional hub.

ASIC Issues Warnings to 18 'Finfluencers' in Global Crackdown on Unlicensed Advice

The Australian Securities and Investments Commission (ASIC) has issued warning notices to 18 social media "finfluencers" suspected of unlawfully promoting high-risk financial products and providing unlicensed financial advice to Australians. This action was part of a Global Week of Action Against Unlawful Finfluencers, involving nine international market regulators.

Regarding the UAE's efforts, the Securities and Commodities Authority (SCA) released its official list of individuals authorized to operate as financial influencers under a new resolution.

MAS Warning Prompts Unlicensed Crypto Exchanges to Plan Singapore Exits

The Monetary Authority of Singapore (MAS) has issued a final warning to unlicensed cryptocurrency exchanges operating in the city-state, prompting major players to plan their departure. Effective June 30, 2025, firms based in Singapore offering services solely to offshore customers, particularly those related to digital payment tokens and capital market product tokens, will require a license that MAS states it will grant only under "extremely limited" circumstances.

TopTier Trader Reopens Access to Several Previously Restricted Countries

TopTier Trader, a firm offering funded trading programs, announced on Monday, June 9, 2025, that it has officially lifted restrictions on traders from several previously barred countries. This decision means traders from Vietnam, Egypt, Pakistan, Germany, India, Turkey, Romania, Kenya, and the Czech Republic can once again access TopTier's programs.

Scaling a Prop Trading Firm: Why the Right CRM is Essential for Growth

Proprietary trading (or prop trading) firms thrive on strategy, speed, and scalability. However, as firms grow, managing traders, monitoring performances, and mitigating risks often become increasingly complex. This is where a well-designed Customer Relationship Management (CRM) system like FX Back Office (FXBO) tailored to trading firms becomes indispensable.

EBC Breaks Down Japan's G7 Strategy: Calculated Risk or Clever Diplomacy?​

As the G7 summit in Canada approaches, Japan is stepping onto the global stage with a new kind of confidence. Once reacting defensively to U.S. tariffs, Tokyo is now playing offence, turning a trade flashpoint into a potential strategic win. EBC is committing our efforts to examining whether this move is a shrewd geopolitical pivot or a high-stakes gamble.